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1960
The 1950's were a decisive decade for the company. It serves
good purpose to review briefly the accomplishments of those years in
order to measure more objectively the progress that had been made
and to test the soundness of the policies and programs followed.
1. Company profits for the period exceeded by
175 per cent the total earnings for the first
51 years.
2. Total assets more than quadrupled.
3. Shareholders' equity rose from $12 million
to $51.4 million.
4. Dividend rate increased 150 per cent.
5. The number of shareholders increased from
150 to 2550.
These accomplishments came as the result of a management concept
that skills which had been used for the most part in a contractural capacity
would be more productive for the company if applied to logically developed
proprietary undertakings.
During its first 51 years the company largely confined its efforts
to the pursuit of heavy engineering and construction, shiftings its emphasis
from time to time as one type of work offered better opportunity than
another, but remaining principally in the contract construction field and
activities that closely supported it.
Following the Second World War, initial steps were taken that
foreshadowed the transformation of the company in one dramatic decade to
a well diversified organization with widespread interest in mining, ocean
shipping, and land development.
Corporate Expansion
Prior to February 1, 1960, Utah Construction & Mining Co. owned
60 per cent of the equity stock of Lucky Mc Uranium Corporation. On
that date, with the overwhelming consent of the shareholders of both
companies, Utah acquired the remaining 40 percent of Lucky Mc stock
through the exchange of 242, 533 shares of its stock on a 1 for 10 basis, and
the two companies were merged.

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Full-Text

1960
The 1950's were a decisive decade for the company. It serves
good purpose to review briefly the accomplishments of those years in
order to measure more objectively the progress that had been made
and to test the soundness of the policies and programs followed.
1. Company profits for the period exceeded by
175 per cent the total earnings for the first
51 years.
2. Total assets more than quadrupled.
3. Shareholders' equity rose from $12 million
to $51.4 million.
4. Dividend rate increased 150 per cent.
5. The number of shareholders increased from
150 to 2550.
These accomplishments came as the result of a management concept
that skills which had been used for the most part in a contractural capacity
would be more productive for the company if applied to logically developed
proprietary undertakings.
During its first 51 years the company largely confined its efforts
to the pursuit of heavy engineering and construction, shiftings its emphasis
from time to time as one type of work offered better opportunity than
another, but remaining principally in the contract construction field and
activities that closely supported it.
Following the Second World War, initial steps were taken that
foreshadowed the transformation of the company in one dramatic decade to
a well diversified organization with widespread interest in mining, ocean
shipping, and land development.
Corporate Expansion
Prior to February 1, 1960, Utah Construction & Mining Co. owned
60 per cent of the equity stock of Lucky Mc Uranium Corporation. On
that date, with the overwhelming consent of the shareholders of both
companies, Utah acquired the remaining 40 percent of Lucky Mc stock
through the exchange of 242, 533 shares of its stock on a 1 for 10 basis, and
the two companies were merged.